Zhang Yiming, the founder of TikTok parent company ByteDance, has surpassed Indian billionaire Mukesh Ambani to become the second-richest person in Asia.
According to the latest Bloomberg Billionaires Index, Zhang’s net worth has risen to approximately $92.8 billion, placing him second among Asia’s wealthiest individuals. He now trails only Indian billionaire Gautam Adani, whose fortune is estimated at $97.9 billion.
Meanwhile, Mukesh Ambani has slipped to third place with an estimated net worth of $86.9 billion.
The sharp increase in Zhang’s wealth is largely attributed to the rising valuation of ByteDance, driven by TikTok’s global popularity and the company’s rapid advancements in artificial intelligence. ByteDance’s AI chatbot, Doubao, has reportedly attracted more than 300 million monthly users in China.
Bloomberg reported that the company’s recent valuation gains—supported by developments related to its U.S. operations and growing investor confidence—have added more than $24 billion to Zhang’s personal fortune.
Zhang founded ByteDance in 2012 and is now China’s richest person. Since Bloomberg began formally tracking his wealth in 2019, his net worth has increased more than sevenfold.
